Swiss Franc Trading Marginally Higher Ahead Of Switzerland’s Unemploymen
GCI Financial | May 07, 2014 06:14AM ET
For the 24 hours to 23:00 GMT, the USD declined 0.38% against the CHF and closed at 0.8745, as the US trade balance data failed to meet market expectations for March.
In the Asian session, at GMT0300, the pair is trading at 0.8742, with the USD trading tad lower from yesterday’s close.
The pair is expected to find support at 0.8715, and a fall through could take it to the next support level of 0.8687. The pair is expected to find its first resistance at 0.8775, and a rise through could take it to the next resistance level of 0.8807.
Traders keenly await Switzerland’s unemployment rate and foreign currency reserves data for April.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
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